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How to distribute when there is scarce situation

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  • Antonio villar

    () (universidad de Alicante)

Abstract

Decision on allocation of scarce resources constitute one of the elements that define the nature of Economy. These decisions related to the scarcity problem, appear in individual and social contexts and generate rationing problems which are faced by the modern economic analysis from two perspectives: the first one is given by the cooperative theory of the games and the second one is the axiomatic study of the various proposed solutions. The latter is used in this article with the purpose of finding solutions to bankruptcy situations, which are simple accomplish this, we take into account a comparative analysis of four classic rules (proportional, equality, Talmud and equal loss) that enables finding a solution by means of applying different equality criteria. the election of one or another criterion shall depend, generally, on the specific type of problem.

Suggested Citation

  • Antonio villar, 2005. "How to distribute when there is scarce situation," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 62, pages 9-33, Enero-Jun.
  • Handle: RePEc:lde:journl:y:2005:i:62:p:9-33
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    References listed on IDEAS

    as
    1. Hicks, J. R., 1979. "Critical Essays in Monetary Theory," OUP Catalogue, Oxford University Press, number 9780198284239.
    2. Kahn, Richard, 1978. "Some Aspects of the Development of Keynes's Thought," Journal of Economic Literature, American Economic Association, vol. 16(2), pages 545-559, June.
    3. B. R. Shenoy, 1932. "An Equation for the Price-Level of New Investment Goods," The Quarterly Journal of Economics, Oxford University Press, vol. 47(1), pages 138-149.
    4. John H. Williams, 1931. "The Monetary Doctrines of J. M. Keynes," The Quarterly Journal of Economics, Oxford University Press, vol. 45(4), pages 547-587.
    5. Maria Cristina Marcuzzo, 2002. "The Collaboration between J. M. Keynes and R. F. Kahn from the Treatise to the General Theory," History of Political Economy, Duke University Press, vol. 34(2), pages 421-448, Summer.
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    More about this item

    Keywords

    Microeconomic behavior; distribution;

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D30 - Microeconomics - - Distribution - - - General

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